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Abu Dhabi Islamic Bank (ADIB) marks the launch of $750m AT1 Sukuk Listing on London Stock Exchange's International Securities Market

Posted: 25 July 2023

Abu Dhabi Islamic Bank (ADIB) is a leading bank in the UAE with more than AED 172 billion in assets, offering a comprehensive range of retail, corporate, business, private banking, and wealth management solutions. Established in 1997, the bank's shares are traded on the Abu Dhabi Securities Exchange (ADX), and it maintains a significant presence in six strategic markets: Egypt, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Qatar, and Iraq.

Today, ADIB proudly highlights the remarkable achievement of raising $750 million through the issuance of AT1 perpetual sukuk and commemorates the event by opening the Markets at London Stock Exchange (LSE). The newly issued sukuk will now be listed and actively traded on the LSE platform. 

The overwhelming demand for this issuance, surpassing the initial offer by over nine times, underscores the immense confidence global investors have in ADIB's asset quality. The offering attracted more than 240 global and regional investors and was driven by broad demand across three regions, with final allocations of 83% to MENA, 13% to Europe, and 4% to Asia.

Nasser Al Awadhi, ADIB Group Chief Executive Officer, commented, “The exceptional demand from investors across Europe, Asia, and the MENA region reaffirms the trust they place in ADIB's unwavering performance and growth potential. As we leverage capital markets and collaborate with LSEG, we remain committed to providing outstanding financial solutions and creating lasting value for our stakeholders. This successful listing exemplifies ADIB's dedication to driving innovation and progress in the financial landscape. We are thrilled to receive such positive feedback and support from our investors."

As ADIB marks this significant event, the bank is set to maintain its optimized capital structure and strong CET1 position, solidifying its position as a leading financial institution in the region. The proceeds from this issuance will fuel ADIB's strategic growth plans and fortify the bank's capital base, positioning it for robust expansion opportunities. Moreover, ADIB aims to elevate its offerings and service capabilities further by introducing innovative financial products and solutions that cater to the evolving needs of its diverse customer base.

The market opening ceremony was graced by the presence of ADIB’s Group Chief Executive Officer, Nasser Al Awadhi; H.E Mansoor Abulhoul, UAE ambassador to the UK, Mansour Al Mansouri, Head of economic affairs, UAE Embassy to London, ADIB Group Chief Financial Officer, Mohamed Abdelbary; ADIB head of private banking and wealth management, Dr. Amer Al Ameri, ADIB Group treasurer, Abdul Qadir Khanani, ADIB Head of Marketing, Corporate Communications, ESG and Investor Relations, Lamia Hariz; along with other distinguished representatives.

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